Manulife Financial Co. (NYSE:MFC) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP lowered its position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 18.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 348,755 shares of the financial services provider's stock after selling 80,800 shares during the quarter. Two Sigma Advisers LP's holdings in Manulife Financial were worth $10,306,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Stifel Financial Corp lifted its position in shares of Manulife Financial by 0.6% during the third quarter. Stifel Financial Corp now owns 148,683 shares of the financial services provider's stock worth $4,394,000 after purchasing an additional 859 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of Manulife Financial by 6.5% during the third quarter. Quantinno Capital Management LP now owns 150,813 shares of the financial services provider's stock worth $4,457,000 after purchasing an additional 9,170 shares in the last quarter. Benjamin Edwards Inc. lifted its position in shares of Manulife Financial by 260.7% during the third quarter. Benjamin Edwards Inc. now owns 145,124 shares of the financial services provider's stock worth $4,289,000 after purchasing an additional 104,894 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Manulife Financial during the third quarter worth about $2,036,000. Finally, Verition Fund Management LLC lifted its position in shares of Manulife Financial by 3.8% during the third quarter. Verition Fund Management LLC now owns 33,765 shares of the financial services provider's stock worth $998,000 after purchasing an additional 1,230 shares in the last quarter. Hedge funds and other institutional investors own 52.56% of the company's stock.

Wall Street Analyst Weigh In

Separately, Barclays started coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They set an "equal weight" rating on the stock. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Manulife Financial currently has a consensus rating of "Buy" and an average price target of $37.50.

Manulife Financial Price Performance

Shares of MFC traded down $0.49 during mid-day trading on Tuesday, reaching $31.44. 1,502,895 shares of the company's stock were exchanged, compared to its average volume of 2,516,916. The stock has a market capitalization of $55.08 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.19 and a beta of 1.09. The business's fifty day simple moving average is $31.08 and its 200-day simple moving average is $28.18. Manulife Financial Co. has a 52-week low of $20.09 and a 52-week high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The business had revenue of $10.69 billion during the quarter, compared to analysts' expectations of $9.73 billion. During the same quarter in the previous year, the business earned $0.69 EPS. Equities research analysts predict that Manulife Financial Co. will post 2.72 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.296 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.77%. This is a boost from Manulife Financial's previous quarterly dividend of $0.29. Manulife Financial's payout ratio is presently 57.00%.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.